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People's Daily Online>>China Business

Chinese state firms' profits continue to drop

By Li Lihui (People's Daily)

15:32, December 22, 2011

Edited and translated by People's Daily Online

The main economic indicators of China's state-owned and state-holding enterprises have increased in the first 11 months of 2011 from last year, but their profits have declined for several consecutive months.

According to statistics from the Ministry of Finance, the combined profits of the country's state-owned and state-holding enterprises reached more than 2 trillion yuan in the first 11 months of 2011, up nearly 14 percent compared to last year. Their profits in November dropped nearly 6 percent from October.

Light industry, chemical industry, construction materials, non-ferrous metals and coal industries witnessed considerable increases in their profits in the first 11 months, while transportation, power generation, medicine and steel industry experienced sharp declines.

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